Compensating Your Employees

Do you struggle with decreasing reimbursements and increasing wages?  Do your employees understand the correlation between their performance and their pay?  Do your employees understand the costs to keep your doors open?

A key to your practice success is having the right employees performing their job to the highest level of performance.

Employees are your greatest asset and are motivated by having control of their destiny, progress in their career, are connected to a group of like-minded people, and know the mission of their company.

How can you provide a compensation plan to retain these key employees?

There are four aspects that will make this successful:

  1. Know why you need a compensation plan – To pay for performance and drive the right behavior
  2. Match Compensation to the Employee Role – What key metrics do you want to reward?
  3. Communicate – Share with your employees why you have the plan and how it works.
  4. Develop the Plan – Make sure you look beyond the NOW and plan for the future, make the plan sustainable yet fair to your business and your team.

The right compensation plan will pay your employees for their performance and drive the right behavior of the employees to be successful which in turn will make the business more successful.  Do you need help growing your practice? Click Here to schedule a FREE consultation.

Andrew Vertson, PT, DPT, ATC
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